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Kenneth Montgomery, a top executive at the Federal Reserve Bank of Boston, will head the push to make faster payments available across the industry in the next four to five years.
August 15 -
The U.S. lacks mechanisms authorized in other countries to flag nonbank risks, Eric Rosengren says.
July 15 -
Better web access, paid for by banks, could go a long way toward moving the unbanked into the mainstream. It was one of many ideas batted around at a recent a conference on the role fintech can play in promoting financial inclusion.
October 22 -
The Federal Reserve had ordered improvements in compliance, board oversight, risk management, capital planning and liquidity risk management that spanned multiple subsidiaries.
August 16 -
The central bank is taking a lead role in trying to combat the longstanding problem. A broad study by the Fed aims to measure the extent of payments fraud and to foster more collaboration in thwarting it.
April 3 -
The announcement comes after a Federal Reserve Board task force issued a report in September that said it would further examine options for modernizing the U.S. payments system.
March 29 -
In the new role, Kenneth Montgomery will lead the Fed’s efforts to reduce fraud risk and improve the security and resiliency of the U.S. payments system
December 8 -
Kenneth Montgomery will chair the Secure Payments Task Force, which is made up of more than 200 industry stakeholders who are working on a faster payment system in the U.S.
December 8